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Sorry to be such a newbie...Advice on diamond prices

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j1410

Rough_Rock
Joined
May 18, 2004
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Hi,

I am trying to make a decision between a few different round brilliant options and would love some advice.

Option
1) Purchase a diamond (H&A,OOO,EGL Cert., 1.51ct, VS1,H) at a high end retail shop. They make custom jewelry I could have them do the ring soup to nuts. The price is $10,500 or $6,954/ct.

2) Purchase from a friend in the business. (Good make, No cert, 1.54ct, VS2,G) I haven't seen this diamond and would have to have it shipped to me. Also, I would have to find someone to make the ring. The price is $10,010 or $6,500/ct.

3) Purchase from another wholesale type in town whose business has been around for 60 years. They can make the ring as well as sell the diamond. A friend went here is was very pleased. The store is on the 14th floor of an office building in the Chicago diamond district. The diamonds they showed me thus far are (I didn't write down all the cut numbers, but they were all very good and each diamond was certificed by EGL)...
Price/Carat Price Carat Clarity Color

$6,742 $8,900 1.32 VS1 F
$5,882 $8,000 1.36 VS2 G
$5,756 $9,900 1.72 SI1 H
$5,667 $8,500 1.50 SI1 G

I am balacing what my gut feeling says about each store/person with what kind of diamond I can afford. I was looking to spend between $8K and $10K on the diamond.

I would love any advice you could give me on where to best buy a diamond and how to optimize my purchase.

Thanks!
Josh
 
Josh

pick the stone you feel most comfortable with and have in professinally checked.


Diamond quality cannot be accuratly determined witut testing or examinining it.

Good advice

Bill/ Rockdoc
 
There are many ways to buy a diamond and ring these days -- those you mentioned, along with buying over the internet or some combo of the above. The pricing will vary depending on the overhead of the vendor. High end retail will be the most expensive usually.

You have to decide which you are most comfortable with, and then make sure you protect yourself through the process. As Rockdoc says, the best way to do this is to make sure you get a good refund period or can send the stone to an independent appraiser before purchasing to make sure it is what they say it is. This is particularly important for the uncerted stone, but applies ot all of them.

Just a couple of comments on where you are so far...

1. A wholesaler is not a wholesaler if he is going to sell to you. He will be selling to you as a retailer, so don't get fooled by the lingo. Just try to compare apples to apples and then factor in any extra services or value-add the vendor will be able to provide you. You need more info on the stones to really compare them. You should get dimensions, crown and pavilion angles, and inclusion details to evaluate them.

2. Don't not consider the internet as a option. It is a great way to broaden your choices of high end stones beyond your local market. Some people specifically want to buy locally, and that's their choice, but I would recommend to as least consider it. (I've bought several stone that way, and am sold on the quality and pricing you can get online.)

3. Lastly -- EGL certs vary widely. It's a franchise lab. The US based certs are fairly reputable, but the foreign EGL certs are known for being "soft". Thus you could be overpaying for the stone (ex. paying for an H when GIA would consider it an I). Here is one place an appraiser can help you. EGL certed stones are sometimes discounted compared to GIA certed stones, but you have to know that the stone is what it says it is.

Good luck and post more questions as you sort through this.
 
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